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HSBC’s turned a profit in 2021. Planned job cuts are not expected to affect the client business. The Swiss subsidiary of British financial group HSBC reported a pre-tax profit of $44 million last year, more than reversing the previous year’s loss of $16…
A year ago, HSBC’s Swiss private bank was still considering Geneva as a growth market. Now it is cutting jobs and reducing its office space in Geneva. After a bad year for Swiss private bank HSBC in which wealthy clients withdrew a net $1 billion, it is…
Tighter government COVID-19 restrictions from Saturday already prompted UBS and other banks to re-impose workplace limits. The Hong Kong government yesterday announced a raft of new COVID-19 restrictions yesterday following a number of untraceable Omnicron…
HSBC has reshuffled senior management at its commercial banking arm in Asia and the U.K. Amanda Murphy and Frank Fang have been named co-heads of the APAC commercial banking business, according to a statement, reporting to global commercial banking chief…
The bank will support companies tapping opportunities within Asean’s growing digital economy in sectors such as e-commerce, AI and robotics, fintech, and payments platforms. HSBC Singapore has announced a S$200 million ($147.5 million) lending fund to support…
HSBC wealth and personal banking chief Nunos Matos reportedly shared that the British lender was eyeing a reentry into private banking in India, noting that the market demands a strategic decision this year. After exiting the Indian private banking business…
The bank’s new online platform for corporate customers simplifies receivables collection and improves transparency and monitoring capabilities. HSBC Singapore is launching another digital solution for corporate customers – Dart, or the Digital Accounts…
A continued reduction of credit loss provisions fuelled HSBC’s pre-tax profits in the third quarter to comfortably beat analyst expectations. HSBC registered $5.4 billion of pre-tax profits in the third quarter, according to its latest earnings report,…
Deutsche Bank has hired a former HSBC executive as a managing director in its wealth management unit. Tse Yi-Mun joins Deutsche Bank Wealth Management as a managing director and group head for North Asia, according to a statement. Based in Singapore, she…
The bank is enhancing its digital investment capabilities with a series of new solutions, including $0 commission stock trading, wealth coach and a revamped fund investment platform. HSBC has launched three digital solutions, including Trade25, Wealth Coach…
The platform will provide debt financing for projects in Asia, with an initial focus on Southeast Asia, as part of efforts to reduce climate change. Temasek will be working with HSBC to catalyze financing of marginally bankable sustainable infrastructure…
The bank said the newly created role will help one of its key pillars of embedding its solutions into the digital platforms that its clients are adopting. HSBC has appointed Aman Narain as head of platforms for global commercial banking, a role in which he…
Lender HSBC has lowered its growth forecast for Vietnam from 7.1 percent to 5.1 percent given the ongoing fourth Covid-19 wave that has disrupted key economic activities. “The impact of the Delta variant as it spread across the country and in particular the…
HSBC is the latest to embrace hybrid working with plans to make it a permanent model for the bank worldwide. My own view on the return to office is it would be a waste if we didn’t learn from the last 18 months, said HSBC group chief executive Noel Quinn. The…
HSBC strengthens its sustainability-related capabilities in Southeast Asia with the appointment of a newly created role. Kelvin Tan has been named head of sustainable finance and investments, ASEAN, according to a statement, reporting to Singapore chief…
Major local lender Hang Seng Bank has named a new chief executive to replace Louisa Cheang, who will extend her leave of absence over medical reasons. Diana Cesar has been appointed chief executive at Hang Seng, according to a statement, effective September…
